RAJASTHAN ROYALS (RR) are poised to become the first Indian Premier League franchise to be valued at over $1 billion, with multiple bidders reportedly tabling offers at that level.
The Jaipur-based franchise is currently owned by Emerging Media Ventures in partnership with RedBird Capital Partners and Tiger Global. Among the interested parties is a consortium led by American investor Kal Somani, who is already a shareholder in the franchise. Other bidders in contention include Times Internet, Blackstone Inc. and The Carlyle Group.
All four bidders are understood to have submitted indicative offers of around $1.3bn, with the bidding process said to have begun at approximately $1.1bn. Rajasthan Royals won the inaugural IPL title in 2008 and have since reached the final once, in 2022, where they finished runners-up to Gujarat Titans.
The sale process is being overseen by The Raine Group, which has previously managed high-profile transactions involving English Premier League clubs such as Chelsea in 2022 and Manchester United in 2024.
Given the strong market interest around Rajasthan Royals, defending champions Royal Challengers Bengaluru are expected to attract even higher valuations, driven by their current brand strength.
RCB have been exploring a potential change in ownership, with developments likely in the coming months. Sources close to the Bengaluru franchise suggest that bids in the region of $2 billion could be on the table for the 2025 IPL champions.
